Etihad Airways said to mull rethink on Boeing planes order

Abu Dhabi airline is reportedly exploring options to cancel or defer orders for Boeing 777X jets
By Staff writer
Thu 14 Jun 2018 02:18 PM

Etihad Airways is reportedly exploring options to cancel or defer orders for Boeing 777X jets worth billions of dollars.

Reuters cited four sources familiar with the matter as saying that the Abu Dhabi-based airline is mulling the move as part of a review of its fleet plans.

Etihad and Boeing declined to comment, Reuters said.

Etihad is a launch customer of the 777X alongside Gulf rivals Emirates and Qatar Airways while other buyers include Cathay Pacific, Lufthansa, Japan's ANA Singapore Airlines.

Reuters reported that cancelling or deferring orders for jets earmarked for production at such an early stage could create a headache for Boeing.

Etihad has outstanding orders worth tens of billions of dollars for over 160 Airbus and Boeing aircraft, including the new 777Xs.

The carrier has been reviewing its business since 2016 after billions of dollars spent buying stakes in other airlines failed to deliver substantial returns. This contributed to a $1.87 billion loss in 2016, its first loss since 2010.

On Thursday, Etihad announced that 2017 revenues increased 1.9 percent to $6.1 billion, while losses in core operations fell by $432 million to $1.52 billion.

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Last Updated: Thu 14 Jun 2018 03:32 PM GST

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